Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal’s economy is projected to grow by 4.61% in the current fiscal year 2081/82 (2024/25), with its size estimated to reach NPR 61.07 trillion, according to the Economic Survey presented by Finance Minister Bishnu Prasad Paudel to the House of Representatives. The survey highlights robust economic performance, with per capita gross national income rising to USD 1,517, reflecting improved living standards.
The survey details sectoral contributions to GDP, with the service sector leading at 62.01%, followed by agriculture at 25.16% and industry at 12.83%. Most provinces, excluding Madhes, Koshi, and Sudurpaschim, are expected to achieve growth rates above the national average of 4.61%. Inflation has remained moderate at 4.72%.
Financially, federal expenditure grew by 4.7%, and revenue surged by 12.6% up to Falgun (February/March) 2081. Foreign aid commitments have also increased significantly. The federal fiscal deficit has sharply declined to NPR 16.19 billion from NPR 70.36 billion in the same period last year. However, public debt stands at NPR 26.76 trillion, accounting for 43.8% of GDP, signaling a need for prudent fiscal management.
The survey underscores Nepal’s steady economic progress, with a focus on balancing growth and fiscal discipline, setting the stage for the upcoming 2082/83 budget announcement.
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